The Association of Indonesian Publicly Listed Companies (AEI) has called on the new Indonesia Stock Exchange (IDX) board of directors, which was inaugurated on Friday, to work toward the association's goals.

“The first suggestion was the revision of listing a fee calculation formula that had burdened many of the publicly listed companies,” said AEI executive director Isakayoga as quoted bytempo.co over the weekend.

The association also raised the issue of the poor liquidity of publicly listed companies, which rarely carried out transactions. The AEI hoped that the new board of directors, led by president director Inarno Djajadi, could deal with the issue.

The association also called on the new officials to encourage state-owned companies (SOEs) to list their shares on the IDX to boost market capitalization in the bourse. Isakayoga said that, currently, only SOEs’ subsidiaries listed their shares.

“SOEs are the motor of our capital market. For a long time we have not heard about an SOE holding an initial public offering,” he said, adding that most newly listed companies came from the lower-middle segment and thus had little effect on market capitalization.

Previously, the Financial Services Authority (OJK) announced the new IDX board of directors for the period of 2018-2021, led by Inarno.

Inarno, an IDX commissionaire since June 2017, still serves as the CIMB Sekuritas Indonesia president commissioner. The new board of directors will take office on June 29. (sau/bbn)